{"id":61163,"date":"2025-04-29T20:57:09","date_gmt":"2025-04-29T20:57:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/61163\/"},"modified":"2025-04-29T20:57:09","modified_gmt":"2025-04-29T20:57:09","slug":"port-of-l-a-executive-director-says-retailers-will-soon-have-only-about-7-weeks-of-full-inventories-left-amid-u-s-china-trade-war","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/61163\/","title":{"rendered":"Port of L.A. executive director says retailers will soon have only about 7 weeks of full inventories left amid U.S.-China trade war"},"content":{"rendered":"\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1090901\"><strong>The U.S.-China trade war fallout has begun. <\/strong>The Port of Los Angeles anticipates plummeting cargo traffic until a deal on tariffs is reached, but the Trump administration has not indicated whether negotiations are happening. Time is running out, a JPMorgan chief market strategist said.<\/p>\n<\/li>\n<\/ul>\n<p class=\"yf-1090901\">The U.S.-China trade war has begun, so say goodbye to the goods. The Port of Los Angeles anticipates a <a href=\"https:\/\/fortune.com\/article\/trump-trade-war-ocean-shipping-cancellations-imports-china\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:drop-off;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">drop-off<\/a> in imports next week compared to a year ago, totaling more than a third of typical incoming cargo traffic.<\/p>\n<p class=\"yf-1090901\">\u201cIt\u2019s a precipitous drop in volume, with a number of major American retailers stopping all shipments from China based on the tariffs,\u201d Gene Seroka, executive director of the Port of L.A., <a href=\"https:\/\/www.cnbc.com\/video\/2025\/04\/29\/port-of-las-gene-seroka-on-tariff-impact-retailers-have-about-5-7-weeks-of-full-inventories-left.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:said;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">said<\/a> on CNBC Tuesday morning.<\/p>\n<p class=\"yf-1090901\">While President Donald Trump pressed pause on his sweeping tariff regimen and placed a 10% blanket tax on other countries, he taxed China more. He placed a 145% tariff on China, which retaliated with a 120% duty on American goods. No trade deal has been made, and it is unclear whether there are negotiations happening. Treasury Secretary Scott Bessent has <a href=\"https:\/\/fortune.com\/article\/scott-bessent-china-responsibility-deescalate-trade-war\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:put the onus;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">put the onus<\/a> on China to come to the table and ink a deal. Still, just under half of the port\u2019s business emanates from China, Seroka explained. So things could be bleak until then.<\/p>\n<p class=\"yf-1090901\">\u201cWhat we\u2019re going to see next is retailers have about five to seven weeks of full inventories left, and then the choices will lessen,\u201d Seroka told CNBC. That doesn\u2019t mean shelves will be empty, but in Seroka\u2019s hypothetical, it could mean if you\u2019re out shopping for a blue shirt, you may see 11 purple ones\u2014but only one blue that isn\u2019t your size and is costlier.<\/p>\n<p class=\"yf-1090901\">\u201cNobody wins,\u201d he said. \u201cChina is America\u2019s factory.\u201d He later said: \u201cThe pain is felt on both sides of the Pacific.\u201d<\/p>\n<p class=\"yf-1090901\">Bessent has repeatedly <a href=\"https:\/\/x.com\/RapidResponse47\/status\/1917201625262829978\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:called;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">called<\/a> the tariffs on China unsustainable because the country sells much more to the U.S. than the other way around. He appears to believe China wants a de-escalation because of the exemptions to tariffs it has introduced, but he has still threatened an escalation ladder if that isn\u2019t the case. Nonetheless, the Trump administration, according to a recent LPL Financial <a href=\"https:\/\/www.lpl.com\/content\/dam\/lpl-research\/documents\/Weekly_Market_Commentary_04282025.pdf\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:note;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">note<\/a>, has adopted a softer tone on China. Less than a week ago, the president <a href=\"https:\/\/www.cnn.com\/2025\/04\/22\/business\/trump-china-trade-war-reduction-hnk-intl\/index.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:floated;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">floated<\/a> the notion that tariffs on Chinese goods would be reduced substantially.<\/p>\n<p class=\"yf-1090901\">\u201cWe\u2019ll see what that means, but the conciliatory tone was enough to add fuel to the market recovery,\u201d according to LPL. So far, the three major indexes are relatively flat in early afternoon trading.<\/p>\n<p class=\"yf-1090901\">Earlier Tuesday, Gabriela Santos, JPMorgan Asset Management chief market strategist for the Americas, <a href=\"https:\/\/www.cnbc.com\/video\/2025\/04\/29\/time-is-running-out-to-see-a-lessening-of-tariffs-on-china-says-jpmorgans-gabriela-santos.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:told;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">told<\/a> CNBC: \u201cTime is running out to see a lessening of the tariffs on China.\u201d Everyone knows the tariffs are unsustainable, she said, but markets need to see them actually drop.<\/p>\n","protected":false},"excerpt":{"rendered":"The U.S.-China trade war fallout has begun. The Port of Los Angeles anticipates plummeting cargo traffic until a&hellip;\n","protected":false},"author":2,"featured_media":61164,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[31665,51,1395,32,1700,31664,31663,7686,1219,16,15],"class_list":{"0":"post-61163","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-american-retailers","9":"tag-business","10":"tag-china","11":"tag-donald-trump","12":"tag-economy","13":"tag-gene-seroka","14":"tag-port-of-los-angeles","15":"tag-scott-bessent","16":"tag-trade-war","17":"tag-uk","18":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114423257112640367","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/61163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=61163"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/61163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/61164"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=61163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=61163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=61163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}